Singapore-listed hotel and property group Overseas Union Enterprise, backed by Indonesia's Lippo Group, said on Friday it may make a takeover bid for drinks and property conglomerate Fraser and Neave.
“OUE wishes to state that it is in discussions with certain parties and is considering all options with respect to F&N, including an offer for F&N shares,” OUE said in a statement.
F&N is already the subject of a US$7.2 billion ($8.8 billion) takeover bid by companies linked to Thai billionaire Charoen Sirivadhanabhakdi.
Shares of both OUE and F&N were suspended on Friday.
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